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Waiting 12 months could make a huge difference
Among elderly Social Security beneficiaries, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. So, if you are those individuals who struggled to save during your working life,…
A simple strategy to boost your Social Security benefits
Bigger paychecks today will translate to larger Social Security checks later, but in today’s economy, raises may be little or none to come by. So how do you boost your earnings to increase your Social Security benefits in the future?…
Will you receive the maximum Social Security benefit?
As of June 2022, the average Social Security retirement benefits check is $1,623, according to the Social Security Administration. Of course, that amount can differ depending on the type of recipient. Retirees typically make more than the overall average. The…
Can I still work and collect my Social Security benefits?
Among elderly Social Security beneficiaries, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. With Social Security playing a major role in many seniors’ lives, it is important…
How having an HSA is a win-win situation
The experts tell us the cost of healthcare as we age will be one, if not the largest, expense in our retirement. The average couple retiring in 2022 will need over $300,000 saved after taxes to cover their healthcare costs.…
More aging workers plan to work beyond age 70
The investment firm BlackRock is reporting retirement confidence is down. Fewer individuals are on track to retire when they had planned, which is a “reversal from the last few years where confidence remained steady and even increased.” Why? “Inflation is…
Changes are coming
Yes, Social Security will change next year, but how? Currently, there are four ways Social Security will change that current and future retirees need to be aware of so they can be better prepared when making their plans for 2023.…
Don’t waste your money on these items
You have worked hard all of your life; now it is time to retire and live it up, but without proper financial planning and budgeting, certain purchases could lead to financial hardship in your later years. John Csiszar lists the…
The latest estimation on the COLA increase for 2023
The Senior Citizens League has estimated the Social Security COLA will be for 2023, based on current CPI data, is 10.5 percent. But, if the Fed is able to lower the inflation numbers, we could experience a smaller than expected…
Supercharge your retirement income by making a few simple moves
Social Security provides a foundation of income on which workers can build to plan for their retirement. However, Social Security benefits are much more modest than many people realize; the average Social Security retirement benefit in January 2022 was about…